Red Roof Inn Etowah / Athens, Tennessee

Hospitality for Sale
Catylist Listing ID: 30786219
Property Subtypes: Hotel
Number of Units: 72 Units
Building Size (RSF): 28,968 SF
Gross Building Area: See Agent
Gross Land Area: 1.53 Acres
Sale Price: $3,100,000
Unit Price: $43,055.56 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/24/2022

Overview / Comments

The Red Roof Inn of Etowah, Athens is a 72-room interior corridor hotel just outside of Cleveland, Tennessee. The hotel has had consistent revenue and was virtually unaffected by the disruption of the COVID-19 pandemic. Much of its business is generated from nearby industry and is conveniently to all major demand generators.

The hotel features a compact design perfect for an owner operator. There is a main laundry located behind the office that features two 60-lb washers and two gas dryers. There is a management apartment on the located on the third floor. Guest laundry and vending is conveniently located.

The lobby is spacious and has an adjoining breakfast area with ample seating. The hotel also has a meeting room, fitness room and outside gazebo.

This property is perfect for an owner operator looking to own a low maintenance interior corridor property with strong, consistent revenue.

Contact Listing Agent. Do not disturb the operating business. Contact Agent for additional photos.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $30,554 (Annual)
Tax Value Improvements $2,047,500

Additional Details

Nearest MSA: Athens
County: McMinn
Tax ID/APN: 054107J B 05200
Site Description: The hotel lot faces Tennessee Ave.
Area Description: Near regional medical center and other draws. Denso Manufacturing at Interstate Exit 305, David W Lillard Memorial Highway. 1.1 miles to Etowah Elementary School. Exit from Interstate 75 toward Etowah approximately 6 miles on Highway 305 / David W Lillard Memorial Highway. Highway 305 runs into Highway 11. Turn right. Red Roof Inn is on the right.
Total Number of Buildings: 1
Property Condition: Good
Year Built: 2004
Parking Type: Surface
Interior Description: Updated Red Roof decor and furnishings. New Red Roof signage.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 665 8,184 9,128
Median Age: 41.91 44.09 43.92
Households: 288 3,349 3,704
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